T. Rowe Price Investment Management Inc. Sells 209,673 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

T. Rowe Price Investment Management Inc. lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 13.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,313,061 shares of the scientific and technical instruments company’s stock after selling 209,673 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Teledyne Technologies were worth $609,432,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Teledyne Technologies in the fourth quarter valued at about $306,042,000. Madison Investment Advisors LLC purchased a new stake in Teledyne Technologies in the fourth quarter worth $94,721,000. Raymond James Financial Inc. bought a new stake in shares of Teledyne Technologies in the fourth quarter valued at $53,304,000. FIL Ltd lifted its position in shares of Teledyne Technologies by 72.8% during the 4th quarter. FIL Ltd now owns 260,187 shares of the scientific and technical instruments company’s stock valued at $120,761,000 after buying an additional 109,615 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares during the period. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $460.67 on Wednesday. The firm has a 50 day moving average of $484.49 and a 200-day moving average of $478.50. The firm has a market capitalization of $21.58 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $5.44 EPS. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TDY has been the topic of several recent research reports. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America boosted their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $548.00.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Corporate insiders own 1.50% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.